Ford India has announced plans to market a new line of fuel-efficient vehicles.
The cars, which will be available for sale in 2010, are fueled by compressed natural gas and liquified petroleum.
Ford India currently distributes Ikon, Fusion and Fiesta cars, as well as the Endeavor sports-utility vehicle. However, the worldwide economic recession caused sales to plummet by 22.5 per cent from April-September 2008. Nevertheless, the company still managed to ship a total of 4,062 cars and SUVs during the troubled period.
"The credit crunch and the lack of confidence has affected [us] in the short-term," admitted Michael Boneham, president of Ford India. According to Boneham, the company expected 2009 to be a tough year for the industry with a single-digit growth (rate). However, the optimistic president projected that sales would increase when Ford launched its fuel-efficient small car in 2010.
Ford will undoubtedly face stiff competition from a number of companies vying to dominate the lucrative Indian automotive market. For example, Toyota is reportedly developing a new fuel-efficient vehicle expected to retail at $5,000. In addition, Tata is slated to launch its affordable $2,500 Nano sometime in the near future.
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